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MMi Daily Iron Ore Index Report June 15 2022

DCE iron ore was shocked and continued downward all the day.The main contract closed 867,decreased of 3.18%. Traders are generally enthusiastic about selling, steel mills are mainly keep take and see attitude, and the market transaction atmosphere is positive. PBF at Shandong port deal t 930-963 yuan/mt,decreased 13-20 yuan/mt compare with yesterday .PBF at Tangshan port dealt940-960 yuan/mt, decreased10-20 yuan/mt than yesterday. Today, the economic data in May was released. Although the overall economic data was improved compared with April, the real estate data continued to deteriorate, and the market pessimism continued to weaken. Superimposed on the high inventory of steel mills, the finished product price continues to decline, the steel mills’ enthusiasm for production may weaken, and the demand for iron ore may decline. It is expected that the ore price will continue to fluctuate weakly.

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Source: Metals Market Index (MMi)

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